When Determining Whether a Liability Exists,the Intentions or Actions of Management

question 69

True/False

When determining whether a liability exists,the intentions or actions of management need to be taken into account.

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Definitions:

Available Cash Balance

The amount of cash that a company has on hand after accounting for all operational and investment expenses.

Electronically

Pertaining to the use of computers, the internet, or other digital technology to facilitate processes, transactions, or communications.

Total Collection Time

The average period it takes for a business to receive payments owed by its customers.

Debit Card Transactions

Electronic fund transfers initiated by using a debit card, allowing the cardholder to withdraw cash or make purchases directly from their bank account.